TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Community

Employee

Question

I transferred my interest in a timeshare back to the home agency. I received $2100. Do I have to file my 1099-S?

Forum|Forum|1 year ago
February 12, 2025
1 reply
0 views

I am using TT Deluxe and only have minute info on what I paid for it. Timeshares are not real property just "right to use".

If you have a gain on the sale, you would be required to report. You are correct that timeshares are "Right to Use" but they are considered an Ownership Interest. In TurboTax, you can enter as an Investment sale and include your basis to determine if you have a taxable gain. If there is a taxable gain, it is reported on your Schedule D. If you have a loss, it is probably not deductible because in most cases, it is considered a loss on the sale of personal property.